Li Ka-shing to accept naming honour, despite 'hurtful sniping'

Li Ka-shing says he was deeply hurt by 'rude remarks' made in the wake of the offer to rename the University of Hong Kong's medical faculty after him in gratitude for his $1 billion donation.

The tycoon said yesterday in a letter to the university's vice-chancellor, Tsui Lap-chee, and friends of the university, that his acceptance was not an act of vanity but arose from a deep affiliation and dedication to Hong Kong. He also believed the move could encourage philanthropy and promote donations to universities around the world.

Mr Li wrote that he was still happy despite the 'sniping' that erupted after the renaming offer.

The letter came on the same day his charity arm, the Li Ka Shing Foundation, announced it was donating $300 million to the University of California, Berkeley, to establish a biomedical and health sciences centre to be named after Mr Li.

'I must admit that the rude remarks which have been thrown at the university have hurt me deeply, though I believe that in these reckless and unruly times, one is only more noble to uphold correct principles,' his letter reads.

'Those who do not know me might mistake my support for Hong Kong University as an act of vanity.'

'I have indeed asked myself why, if I have declined to have my name associated with over 80 per cent of [charity] projects over the past three decades, why then am I unchanged in my decision on this naming?